IIn 2007 and 2008, Internews Network spent 10% or less of of total costs on General & Administrative (G&A), fundraising and other expenses.
Project costs include allocated expenses incurred both overseas and in the US.
2008
2007
ASSETS
Cash and investments
568,418
686,643
Project and other receivables, net
4,827,964
2,194,065
Fixed assets, net
168,414
294,742
Prepaid and other assets
111,147
173,324
Total assets
5,675,943
3,348,774
LIABILITIES AND NET ASSETS
Accounts payable and accrued expenses
1,667,584
1,323,491
Refundable advances
1,477,984
909,459
3,145,568
2,232,950
Unrestricted net assets
429,024
197,440
Temporarily restricted net assets
2,101,351
918,384
Total liabilities and net assets
5,675,943
3,348,774
STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS
Years ended December 31
2008
2007
REVENUE AND OTHER SUPPORT
Grants and contributions
31,079,644
26,778,399
Total revenue and other support
31,079,644
26,778,399
EXPENSES
Labor and program expenses
23,668,181
21,509,212
Project support
3,025,466
2,543,772
Other expenses
22,460
55,658
General and administrative
2,948,986
2,450,476
Total expenses
29,665,093
26,559,118
Change in net assets
1,414,551
219,281
The financial records of Internews Network are audited annually by an independent firm of certified public accountants.
The financial records for 2007 and 2008 were audited by Gelman, Rosenberg & Freedman.
A complete set of financial statements is available on request from Internews Network at PO Box 4448, Arcata, CA 95518 USA.
